Continuing on our relentless theme of applying old school chart techniques to crypto, we are seeing a classic chart formation develop in Bitcoin (BTC). Looking at XBTUSD on BitMEX, we are seeing a “tea cup and handle” continuation formation on an intraday chart (Figure 1). Figure 1 The theory behind the pattern is simple. A… Read more

Around 5 a.m. yesterday morning, Bitcoin (BTC) dropped to as low as $7,500 and was close to shattering its critical support level. However, Bitcoin (BTC) then rose throughout the day yesterday, and this steady rise has continued into today. Around noon Eastern time, Bitcoin (BTC) reached $8,170 before pulling back to $8,020 by 3 p.m.… Read more

Bitcoin (BTC) tested support near $7,600 yesterday at 5 p.m. Eastern time before quickly recovering to $8,100 around 8 p.m. After that Bitcoin (BTC) went as low as $7,900 in the early morning hours, recovered to $8,150 by 6 a.m., and dropped again to $7,900 during the late morning hours. Throughout the afternoon, Bitcoin (BTC)… Read more

Listen to the May 15 Crypto.IQ Daily Radio Show On this edition of the Crypto.IQ Daily Radio Show, we do a deep dive market analysis. Bitcoin (BTC) is near $8,000 this morning. The altcoin market is looking healthy with several major cryptocurrencies up over 10% in the past 24 hours, resulting in a decline of… Read more

Looking at a three-day chart, Litecoin (LTC) is approaching major resistance at $105. $105 is the 23 percent retracement of the entire bear market. $105 is also the location of two prior lows in January and April of 2018 (Figure 1) Figure 1 We see a possibility for Ethereum (ETH) to start rising the way… Read more

Listen to the April 3 Crypto.IQ Daily Radio Show On this edition of the Crypto.IQ Daily Radio Show, we do a deep dive market analysis. The crypto market is extremely bullish this morning, with Bitcoin Cash (BCH) up 50 percent, Dogecoin (DOGE) up 35 percent, and Litecoin (LTC) up 21 percent over the past 24… Read more

In our view, navigating crypto is about evaluating all the big coins together. Starting with Bitcoin (BTC), support is at $4,880 (Figure 1). If that level holds as support or that level is never tested, Bitcoin on BitMEX can move to a Gann zone between $5,800 and $5,900. We do expect Bitcoin (BTC) to consolidate,… Read more

Just after midnight Bitcoin (BTC) shattered the $4,200 level, which is a long term resistance level that has been in place since December. Bitcoin (BTC) rallied to as high as $5,080, an astonishing 21 percent rally in just two hours. According to Reuters, a single whale bought 20,000 Bitcoins (BTC) worth $80-100 million across three… Read more

Listen to the April 2 2019 Crypto.IQ Daily Radio Show On this edition of the Crypto.IQ Daily Radio Show, we do a deep dive market analysis. Bitcoin (BTC) shattered the $4,200 long-term resistance level just after midnight and rallied as high as $5,080. Data indicates that a coordinated buy of $100 million of Bitcoin (BTC)… Read more

Looking at big coins, perhaps the one with most upside potential is Bitcoin Cash (BCH). Bitcoin Cash (BCH) has a long way to rally just to get the bottom of a gap on its Coinbase chart near $274 (Figure 1). Also, Elliot Wave work supports the idea of a move to $425. Figure 1 In… Read more